How is Google, one of the most influential tech companies, utilizing decentralization?
Big IT businesses have been paying greater attention to blockchain innovations. Although the support of a well-known brand like Google may help to propel blockchain into the mainstream, there is still space for improvement from both blockchain developers and prominent mainstream firms.
It’s no surprise they’ve been looking at the possibilities blockchains may provide for a long time. As of 2021, Google has its fingers in many blockchain pies. So naturally, they have a massive infrastructure spread around the globe, and numerous blockchains may profit from it without worrying about maintaining their backend.
In this blog, we have listed a few projects in which Google has been involved.
Google’s first measured approach
Google released a blog article in June 2019 hinting that merging distributed ledgers with current internet resources and public cloud services has advantages.
Many people have been amazed by this new hybrid cloud-blockchain method. Because Google used Ethereum (ETH) for this, it was evident that the corporation had done extensive research into the technology. It was a step toward making publicly available blockchain data over Google Cloud, which has been known for years.
Using Chainlink (LINK) oracles to connect Ethereum smart contracts to Google’s business cloud data warehouse highlights the technology’s potential. It also emphasizes the possibility of utilizing Chainlink services to deliver on-chain data to eliminate inefficiencies and bring new capabilities.
Google pay transactions
In many jurisdictions, the question of integrating the DeFi and fiat worlds is still a concern. However, the desire for seamless integration of crypto and fiat payment mechanisms is growing among businesses. People want to utilize the one-stop shop to buy and sell cryptocurrency in dollars.
Google approached a peer-to-peer online BTC exchange about the viability of Google Pay transactions. And they were successful! Users may already purchase Bitcoin using the Google Pay app on their phones.
Another exchange took it a step further by launching its Visa payment cards. Google Pay and their pool of crypto money were merged to conduct quick transactions with any suppliers. Consequently, a user may pay for items and services with crypto using a physical debit card from their exchange’s balance.
In reality, there’s a lot more going on behind the scenes. Nonetheless, this is a ground-breaking application that effectively transforms cryptocurrencies into “regular” money in the real world.
Google and Theta lab partnership
When Google Cloud teamed with Theta Labs, a decentralized video streaming platform, the company’s involvement with blockchain technology took an exciting turn in early 2020. It appeared at first to be a small-scale collaboration. Still, the partnership’s ambition was revealed when it was revealed that any Google Cloud customer might deploy Theta’s blockchain network to experiment with the technology.
Google Cloud set up a Theta Network (THETA) validator node to support users across Europe as part of this arrangement. Google Cloud has since become an integral element of the Theta ecosystem. Theta’s network is also the seventh blockchain to make its data publicly available through Google’s public dataset initiative.
Serving BigQuery for developers
BigQuery is Google’s first foray into the blockchain realm. They progressed in this field after creating this one.
BigQuery works with API calls, as in their SQL workspace. Such is why, to obtain that data, you must be at least technologically knowledgeable. By emailing the Google team, you must receive confirmation of your project. When you’re ready, you can start doing interesting things. Raw data flowing in real-time isn’t the sole benefit. You may also view the information in various ways, including 3D models and traditional histograms.
Google explores NFTs and FLOW.
Dapper Labs, a Canadian blockchain firm that creates Web 3.0 products and services, has teamed with Google. A Non-Fungible Token (NFT) marketplace is one of the company’s main principles.
Google Cloud has agreed to act as a network operator for Dapper Labs’ Flow (FLOW) blockchain, enabling a more extensive ecosystem of NFTs, games, and applications as part of a multi-year agreement. Dapper will also be able to expand thanks to Google’s secure infrastructure. For example, NBA Top Shot and CryptoKitties are two popular NFT projects on Flow.
Furthermore, the Flow blockchain is accessible via Google Cloud, making Flow and Google software interaction much more effortless.
Adding a new blockchain to an already crowded market and simplifying its operation with a native coin has become commonplace. That is something that even the tiniest businesses can accomplish, and Google is not one of them. They already have a large number of assets. Moreover, they have exceptional minds in technology, business, marketing, and science on their team.
As a result, we should not be surprised if Google takes steps beyond merely developing a blockchain. This search whale is a perfect example of what a good blockchain may become, assuming it’s based on a decentralized ledger. So, let’s see how Google plans to establish itself in the developing blockchain business.
Disclaimer: Cryptocurrency is not a legal tender and is currently unregulated. Kindly ensure that you undertake sufficient risk assessment when trading cryptocurrencies as they are often subject to high price volatility. The information provided in this section doesn’t represent any investment advice or WazirX’s official position. WazirX reserves the right in its sole discretion to amend or change this blog post at any time and for any reasons without prior notice.